Initial sign of recovery stall after 20DMA repeatedly capped
The cross dipped after repeated failure to break above falling 20DMA (0.8898), as better than expected UK GDP data (Q2 GDP y/y 1.3% vs 1.2 % f/c / prev) offset larger than expected UK current account deficit (Q2 -25.2B vs -19.5B f/c) and…
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Narrowing range ahead of RBA
The Australian dollar extends sideways mode into third straight day, awaiting tomorrow’s RBA policy meeting for fresh signals.
Bear-leg from 0.6894 (12 Sep high) is taking a breather above pivotal support at 0.6736 (Fibo 76.4% of…
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Consolidation above new 3-wk low eyes UK data for fresh signals
Cable ticks above 1.2300 handle in early Monday’s trading, as bears are taking a breather above new three-week low at 1.2270, where daily Kijun-sen / 50% of 1.1958/1.2582) provided footstep.
Negative sentiment was further soured by…
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Falling 10DMA to cap extended upticks and keep bears intact
The Euro extends consolidation above 1.09 support after bears faced strong headwinds here, but the upside remains limited despite Friday’s bullish close.
The pair ended last week in red (the second consecutive bearish weekly close) and hit…
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Bears face headwinds from 1.0900 zone and may hold for consolidation before resuming
The Euro bounces from new multi-month low at 1.0904 (the lowest since early May 2017) on Friday, as bears faced headwinds from 1.0900 (round-figure support) after key level at 1.0926 (3/12 Sep double-bottom) was taken out on Thursday.…
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Extended weakness on BoE rate cut signals eyes daily cloud base
Cable accelerated lower in early European session on Friday, extending strong fall from 1.2500 zone into third straight day.
Fresh weakness hit new two-week low on probe below 1.2300 handle and was sparked by comment from BoE policymaker…
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Gold recovers after strong fall but pivotal barriers stay intact for now
Spot gold bounces from $1500 level which contained Wednesday’s 1.9% fall.
The yellow metal fell sharply on renewed risk appetite that prompted traders to collect profits from four-day $1483/$1535 rally.
Wednesday’s fall (the second…
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Recovery attempts need break above falling 20 DMA to signal reversal
The cross holds in green for the second day and extends gains above falling 10DMA (0.8844), pressuring first pivots at 0.8900 zone (16/19 Sep spike highs).
Larger bears may take a breather after failure to clearly break below 200DMA…
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Penetration of daily cloud boosted bears
Bears break through pivotal Fibo support at 1.2343 (38.2% of on Thursday 1.1958/1.2582 / 20DMA) on Thursday, extending Wednesday’s 1.1% fall (the biggest one-day drop since 29 July) which generated strong bearish signal on break of key…
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Bears are taking a breather before final attack at key support at 1.0926
The Euro is holding within narrow consolidation above new two-week low at 1.0937 in early Thursday’s trading, but remains strongly biased lower, following Wednesday’s 0.7% fall.
The single currency was hit by fresh strength of US…
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